Digital-Asset Product Flows Drop
Profit-taking is the likely reason for net outflows of $16 million last week.
Digital-asset investment products saw minor outflows of $16 million last week, ending a run of 11 straight weeks of inflows. Trading activity remained well above the year average, though, at $3.6 billion.
The mixed regional flows suggest this was more related to profit-taking than to a turn in sentiment toward the asset class.
Altcoins bucked the trend, with $21 million of inflows. The main beneficiaries were solana, cardano, XRP and chainlink.
Bitcoin ETFs Suffered Highest Outflows
Digital-asset investment products saw minor outflows of $16 million, ending a streak of 11 straight weeks of inflows. Trading activity remained well above the year average, though, at $3.6 billion for the week, compared with the year-to-date average of $1.6 billion.
Regionally, the outflows were primarily focused on the U.S., which had $18 million in outflows, while Germany saw minor outflows of $10 million. That was partially offset by continued inflows into Canada and Switzerland totaling $6.9 million and $9.1 million, respectively. The mixed regional flows suggest this was more related to profit-taking rather than a turn in sentiment toward the asset class.
Bitcoin suffered the most, seeing $33 million of outflows last week, while short bitcoin saw minor outflows of $300,000.
Altcoins bucked the trend, with $21 million of inflows. The main beneficiaries were solana, cardano, XRP and chainlink with inflows of $10.6 million, $3 million, $2.7 million and $2 million, respectively.
Ethereum and avalanche had outflows of $4.4 million and $1 million, respectively.
Blockchain equities continued to experience positive sentiment, seeing substantial inflows of $122 million last week, bringing the last nine-week run to $294 million.
